I like to have my stop somewhat outside the reaction highs/lows to give it a little room to work. As the trade progresses, I will attempt to tighten a bit. The amount outside the reaction highs lows has a lot to do with how fast and quickly the market is moving. I can't go into that a lot as it would take quite a number of pages and is based more upon live experiences.
-------------------------------------------------------------------------------- Quote from Buy1Sell2: Short June Gold 898.90 Initial Stop 905.80 -------------------------------------------------------------------------------- Stop lowered to 899.50 Stop lowered to 893.90
Initial trade was 1.58800 short Euro FX Quote from Buy1Sell2: Looking decent so far. Stop has been lowered to 1.58620. -------------------------------------------------------------------------------- Stop has been lowered to 1.57730 Stop lowered to 1.56380
nice trade on that Euro. Gold is thinking about dumping, I thought that the breakdown last night to 980 was it, but it came back.
-------------------------------------------------------------------------------- Quote from Buy1Sell2: Short June Gold 898.90 Initial Stop 905.80 -------------------------------------------------------------------------------- Stop lowered to 899.50 Stop lowered to 893.90 Stopped at 893.90 Profit 500 bps